With Arch MI’s RateStar Buydown tool, mortgage originators can customize each borrower’s mortgage insurance premium to an exact dollar amount.
Buydown ensures all available lender and seller credits are used, so no funds are left on the table. It also enables more loans to meet debt-to-income requirements with a lower MI premium payment. Arch MI also integrated its product with Amazon’s Alexa. This technology is enabling mortgage professionals to use the hands-free voice features of Amazon Alexa-enabled devices to retrieve Arch MI quotes, speak with the customer service team or contact an account manager. The tool puts loan officers in control by enabling them to create different combinations of upfront and monthly MI premium payments to meet each borrower’s budget and preferences.